Entrepreneurship & Small Business

Credit / Debit Card Machine. AVOID this company!!

  • Last Updated:
  • Apr 8th, 2014 3:31 pm
[OP]
Deal Addict
Jun 26, 2008
1735 posts
171 upvotes
Toronto

Re: Credit / Debit Card Machine. AVOID this company!!

Anyone have advice on how to cancel these contracts?
12 replies
Member
Apr 6, 2010
493 posts
54 upvotes
Toronto
da_way wrote:
May 29th, 2012 1:04 pm
Anyone have advice on how to cancel these contracts?

Do a search here for "Monex customer service", there is a lot of info in that thread, go to the last 4 or 5 pages (it's up to about 18 now, I think).

Other than that, if you want, send me a note with some contact info and maybe I can be of some assistance.
Cristian.
Jr. Member
Jan 31, 2004
104 posts
Scarborough
What about other options.

I am a small wholesale owner, instead of chasing after customers for their payments. Card machine is a option for me to get that particular payment faster and easier.
But where do I start, who should I contact.

Please advise ...
Member
Jun 8, 2012
442 posts
45 upvotes
Toronto
joehan wrote:
May 31st, 2012 12:50 pm
What about other options.

I am a small wholesale owner, instead of chasing after customers for their payments. Card machine is a option for me to get that particular payment faster and easier.
But where do I start, who should I contact.

Please advise ...

Start with your bank. They can refer you to a reputable company.
Newbie
Mar 28, 2008
38 posts
da_way wrote:
May 29th, 2012 1:04 pm
Anyone have advice on how to cancel these contracts?

trust me, i've just been through an epic battle with a company similar to MONEX called Pivotal Payments, and previously Elavon.

What I've learned:
- in the end, it's best to go with a solution through one of the major banks, preferably your bank. Otherwise you have no leverage when you try to cancel and you WILL be charged a termination fee, mine was two installments of $3000.

- monex, pivotal, elavon...alot of these ones that are not affiliated with a bank are a chain of resellers for companies origniating in the US. US processing companies are agressively pursuing business in canada for the last few years, offering very low rates which TRUST me are not worth it.

- if your contact is from a different company than the compnay on your contract/agreement, walk away. A classic reseller who will give you no help if anything goes wrong and when you call the parent company they're not very flexible if you're unsatisfied and want to bail.

Like I said, just finished an epic 6 month battle, trust me on this one.
Member
Apr 6, 2010
493 posts
54 upvotes
Toronto
bzizzler wrote:
Jun 10th, 2012 5:13 pm
trust me, i've just been through an epic battle with a company similar to MONEX called Pivotal Payments, and previously Elavon.

What I've learned:
- in the end, it's best to go with a solution through one of the major banks, preferably your bank. Otherwise you have no leverage when you try to cancel and you WILL be charged a termination fee, mine was two installments of $3000.

Sorry to hear about your problems, I just want to clarify something here:

Elavon is a bank, not a provider. Their cancellation fee is $195.00 (one hundred ninety five). That's about it.

There are several providers that sell for Elavon, some are better than others, but in the end it's the provider that you have to deal with.
(If Moneris charges you a cancellation fee, you don't go to RBC, right?)

The problem with going "through one of the major banks, preferably your bank" is that, if there are any problems, there is nothing you can do about it, you can't put a stop payment on them. And they take advantage of the trust merchants place in them, many times charging a lot more than you can get otherwise, or increasing fees and so on. I've seen it happen with all the "major" (read "bank owned") providers. It doesn't make them bad, it's just business.

I've seen merchants lose thousand of dollars due to fraudulent transactions, even if they had all the documentation needed and more (one had a copy of the CC - both sides, driver's license and passport. They were all fake, merchant lost some $18K, and was surprised because "But this is MY bank, why are they doing this to me?")

So as a merchant, you need to be careful about everything and - most important - about what you sign. It's YOUR business.
Cristian.
Deal Addict
Oct 29, 2010
4259 posts
617 upvotes
I haven't closed all my business with Elavon but i did close a location some time ago and each location has it's own account in their system. They didn't give me any hard time and didn't even ask for a penny back. I was still under contract for that account.
Member
Apr 6, 2010
493 posts
54 upvotes
Toronto
flafson wrote:
Jun 11th, 2012 1:24 am
I haven't closed all my business with Elavon but i did close a location some time ago and each location has it's own account in their system. They didn't give me any hard time and didn't even ask for a penny back. I was still under contract for that account.

Thank you for mentioning this, Elavon is quite decent. 95% of my customers with Elavon never had any issues (some did, mostly due to fraudulent transactions) and a number of them would never consider switching to someone else.

Cristian.
Jr. Member
Sep 27, 2004
157 posts
17 upvotes
Vancouver
bzizzler wrote:
Jun 10th, 2012 5:13 pm
trust me, i've just been through an epic battle with a company similar to MONEX called Pivotal Payments, and previously Elavon.

What I've learned:
- in the end, it's best to go with a solution through one of the major banks, preferably your bank. Otherwise you have no leverage when you try to cancel and you WILL be charged a termination fee, mine was two installments of $3000.

- monex, pivotal, elavon...alot of these ones that are not affiliated with a bank are a chain of resellers for companies origniating in the US. US processing companies are agressively pursuing business in canada for the last few years, offering very low rates which TRUST me are not worth it.

- if your contact is from a different company than the compnay on your contract/agreement, walk away. A classic reseller who will give you no help if anything goes wrong and when you call the parent company they're not very flexible if you're unsatisfied and want to bail.

Like I said, just finished an epic 6 month battle, trust me on this one.



you could have just closed your bank account so they wouldn't have access to your account anymore and just open a new one. Its a bit of a hassle but you have to protect your funds. I was with pivotal as well and got mislead by them and Axxess payments.
Newbie
Nov 23, 2011
69 posts
12 upvotes
yea those massive termination fees aren't put on by the banks (chase, elavon, td, first data) They are put on by the guy thats signing you up. Most of the banks termination fee is under $500 dollars from what I've seen so far.
Josh Pereira
Payfirma Corporation
Newbie
Nov 21, 2013
8 posts
London, ON
Monex group is big scam and cheating people!
I saw alots people in here are victims of monex group, me too!
2008 a man came to my shop advertised monex debit interact, i asked him i have any contracts if i use them, he said i have no contract if i payoff debit machine
then he gave me paper to sign one paper term agreement words are too small hard to read,i asked him again this is contract he said it is debit service ,,,,then i deposited 300$ for order machine
when he bring it to my shop i paidoff for machine total about 1100$ ,since that time i never know i have 90 months of contract and auto renew if you donot tell 180days for cancellation
jan/2012 my shop were on fired,my debit machine was not processing then they cancel debit services and send me ask me to paid 10.000.00$ i called them why? they said i have to pay the penalty early cancellation,but i donot tell the for cancellation, i told monex group just temporary suspended service i will use when my shop are rebuilded,but they are not agree ask me to pay 3100.00$
i felt i get rift off money from them i donot want to pay, then they need the other company netback revovery services asked me to pay 1000.00
i still donot want to pay, now monex group take me to court , i hate them any people here give me the idear to again and sue them , i need phone of any victims in here to be my witness when
i go to court with my lawyer to sue them back please email me your phone number,your name, and address then any people here are victims of monex need me for witness email me i will be a witness momex group is scammer,cheater,money stealer, please contact my email: longdang2003@yahoo.com
i am sorry my enghlish i am vietnmeses please understand me
thank you all of you here !!!! we have to sue monex group big liar,cheater,.......monex group go to hell
Newbie
Nov 21, 2013
8 posts
London, ON
Monex group is big scam and cheating people!
I saw alots people in here are victims of monex group, me too!
2008 a man came to my shop advertised monex debit interact, i asked him i have any contracts if i use them, he said i have no contract if i payoff debit machine
then he gave me paper to sign one paper term agreement words are too small hard to read,i asked him again this is contract he said it is debit service ,,,,then i deposited 300$ for order machine
when he bring it to my shop i paidoff for machine total about 1100$ ,since that time i never know i have 90 months of contract and auto renew if you donot tell 180days for cancellation
jan/2012 my shop were on fired,my debit machine was not processing then they cancel debit services and send me ask me to paid 10.000.00$ i called them why? they said i have to pay the penalty early cancellation,but i donot tell the for cancellation, i told monex group just temporary suspended service i will use when my shop are rebuilded,but they are not agree ask me to pay 3100.00$
i felt i get rift off money from them i donot want to pay, then they need the other company netback revovery services asked me to pay 1000.00
i still donot want to pay, now monex group take me to court , i hate them any people here give me the idear to again and sue them , i need phone of any victims in here to be my witness when
i go to court with my lawyer to sue them back please email me your phone number,your name, and address then any people here are victims of monex need me for witness email me i will be a witness momex group is scammer,cheater,money stealer, please contact my email: longdang2003@yahoo.com
i am sorry my enghlish i am vietnmeses please understand me
thank you all of you here !!!! we have to sue monex group big liar,cheater,.......monex group go to hell

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